Hythe-based commercial insurance broker GR Marshall, which came to life in 1974, has been acquired by JMG Group for an undisclosed sum.
“This sale is the next step in building on the success we have achieved and, with the expertise and backing from the JMG Group, will allow us to take the business even further,” said GR Marshall managing director Robert Tipp (pictured), who became sole shareholder of the company in 2013.
“I’m currently wearing six or seven hats at any one time and, while they are all essential parts of running a successful insurance broker business, I want to engage even more with clients, which is what this move will allow me to do.”
Set up by Gill Marshall nearly 50 years ago, the Southampton broker employs five people and operates primarily in the property, motor trade, and personal insurance market. Under new ownership, the business will be retaining its existing branding.
Tipp added: “It was important that we found a buyer that shares our people-focussed values, and the sales process has more than confirmed this of JMG Group. From the get-go the team has been friendly, responsive, warm and has kept true to their word – every interaction is how I would have wanted to be treated if I were a JMG Group client, which is a testament to the calibre of the team.”
GR Marshall is JMG Group’s 21st acquisition since the latter’s formation less than three years ago. Last month the Yorkshire-based group snapped up North East commercial and corporate broker Insure Business.
Commenting on the latest deal, chief executive Nick Houghton noted: “What makes GR Marshall special is its approach to client handling, and this is reflected in the longevity and loyalty of its client base.
“The group will help GR Marshall with some of the ‘heavy lifting’ elements involved in the day-to-day running, yet allow Robert and his team the autonomy to steer the business as they best know how. Having GR Marshall on board gives us additional expertise to share across the group and a stronger foothold in the South of England.”
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